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. >> tesla on the kindness of the government. that kindness will be over if the white house gets a new occupant. i suggest buying tesla in november. 25s look juicy. both candidates had a lot to say about oil. here's obama. >> the oil industry gets $4 billion a year in corporate welfare. now does anybody think that exxonmobil needs some extra money when they're making money every time you go to the pump? >> you that i exxon would have gotten hit today, right? it rallied 52 cents. some can argue that is because the market senses a romney victory. no way. exxon is just bigger than any president. >> your administration cut the number of permits and licenses in half. if i'm president, i'll double them. >> we aren't going to make money buying federal lands. but if more were opened, it would be a bonanza for the oil service industry. don't outthink this, people. schlumberger and national oil will get the most number of profits from expanded federal land drilling. obama is never a fan of the banks. you don't want to overweight the group
. >> tesla on the kindness of the government. that kindness will be over if the white house gets a new occupant. i suggest buying tesla in november. 25s look juicy. both candidates had a lot to say about oil. here's obama. >> the oil industry gets $4 billion a year in corporate welfare. now does anybody think that exxonmobil needs some extra money when they're making money every time you go to the pump? >> you that i exxon would have gotten hit today, right? it rallied 52...
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Oct 9, 2012
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, say in september the government hired 187,000 people and in august the government hired 417,000 people, that's 604,000 people the government hired in two months, that's the highest change in government employment since 1948. that's not the bls doing something. that's the government hiring people and then there was part-time, you saw how many part-time people there were suddenly in the report. >> it's people who want to be full time people. >> it lowers the unemployment rate. 114,000 was not a good number. >> no but wait a minute -- >> and jack is like being crucified for just tongue and cheek comment. >> this discussion you're having is over the heads of most american people, including me, okay? >> that's not a high bar for you. >> no, that's not a high bar but let me say this to you. there are people out there that haven't got jobs. there are people out there -- >> they know how they feel. >> exactly, and let's go beyond that. whatever the number is, it vastly understates unemployment. why? because arbitrarily they say if you stop looking for a job, you're no longer unemployed. well,
, say in september the government hired 187,000 people and in august the government hired 417,000 people, that's 604,000 people the government hired in two months, that's the highest change in government employment since 1948. that's not the bls doing something. that's the government hiring people and then there was part-time, you saw how many part-time people there were suddenly in the report. >> it's people who want to be full time people. >> it lowers the unemployment rate....
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Oct 8, 2012
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this is a government-wide program. we had the same thing going on at nasa with the administrator a couple years ago when he was going it to outreach with muslims and we had it with the fbi director last year when he met with muslim groups. it's one thing to create diversity transformation, but it's another thing to use taxpayer money for these things when it's not what the agencies are about. it's clearly inappropriate. >> this is the agriculture department. what does this have to do chanting our forefathers were immigrants? fine. what does chanting that have to do with the mission of the u.s. department of agriculturagricul. i don't understand na. >> absolutely nothing. what happened is over the years there was some discrimination aat the usda. then they brought in a program called pickford, and billions were paid out on fraudulent loan applications in the usda. the usda put into effect during the obama administration to try to reach out to minority groups. that's a worthy goal, but you don't do it with taxpayer money
this is a government-wide program. we had the same thing going on at nasa with the administrator a couple years ago when he was going it to outreach with muslims and we had it with the fbi director last year when he met with muslim groups. it's one thing to create diversity transformation, but it's another thing to use taxpayer money for these things when it's not what the agencies are about. it's clearly inappropriate. >> this is the agriculture department. what does this have to do...
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people gobbling up ten-year government debt at these extremely low yields because they think they're not going to get much better elsewhere? sounds like people don't think there's a lot of growth coming. >> i think there's a little bit of truth in all of it. i'll bring up another point. i think october, a lot of mutual funds ahave the end of their fiscal year. it's been a good run for stocks. the spread between what the stock market is telling us and the economy is pretty wide. the election, depending how it turns out, could have a lot of implications. to me, it makes perfect sense the closer we get to the end of the year, the closer we get to november, people are going to be lightening up. it all makes sense. >> yeah, and mandy, you were highlighting earlier oil is lower, gold is lower. a lot of the base materials have been suffering as well today. >> yeah, that's absolutely true. you know, i think what's also interesting, if it is indeed a scary october, bill, remember, buy low. if you're a long-term investor, then any kind of dip after what has been a good run up to multiyear high
people gobbling up ten-year government debt at these extremely low yields because they think they're not going to get much better elsewhere? sounds like people don't think there's a lot of growth coming. >> i think there's a little bit of truth in all of it. i'll bring up another point. i think october, a lot of mutual funds ahave the end of their fiscal year. it's been a good run for stocks. the spread between what the stock market is telling us and the economy is pretty wide. the...
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we don't need the government to do anything. >> right. >> we just need the government to make sure that there are no bad players. >> but, jim, for a while, we weren't -- there was a stated intention to not add to infrastructure for hydrocarbon based energy. that's where we were four years ago. we had to get completely reject that notion. do it now. >> with respect to natural gas, it's all privately funded. it's not government funded. >> right. okay. >>> we've got to run. we're going to come back shortly. when we come back, we're going to talk baseball and politics after the break. and every day since, we've worked hard to keep it. bp has paid over twenty-three billion dollars to help people and businesses who were affected, and to cover cleanup costs. today, the beaches and gulf are open for everyone to enjoy -- and many areas are reporting their best tourism seasons in years. we've shared what we've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to ameri
we don't need the government to do anything. >> right. >> we just need the government to make sure that there are no bad players. >> but, jim, for a while, we weren't -- there was a stated intention to not add to infrastructure for hydrocarbon based energy. that's where we were four years ago. we had to get completely reject that notion. do it now. >> with respect to natural gas, it's all privately funded. it's not government funded. >> right. okay. >>>...
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whoever the government is that made it so hard to buy also made it easy to buy. >> the banks are doing it on their own. five, six years they were willing to lend to anyone. >> sorry. >> go ahead. >> that was pointed out by the citi note that underwriters are much tighter these days. so the risk is we have all the starts and the home builders are doing well but they will reach the point where the buyers can't get the credit they need and demand is gone. >> that's why when the toll brothers made it, they were in the process. it is one of those things, why aren't more people using the money and bernanke -- go buy a house, chairman. chairman bernanke, go buy an apartment for rental. what you'll see is unless you pay in cash or cut out the banks entirely and that hurts the rate of return, unless you're paying crash you'll tie yourself up for a really long time. evil gains are feeding into things. i do need to modulate here in the risk of the parts of corporations and the banks doing a 180. this is trauma from the financial corporation, which is okay. you want them to have some memory of it.
whoever the government is that made it so hard to buy also made it easy to buy. >> the banks are doing it on their own. five, six years they were willing to lend to anyone. >> sorry. >> go ahead. >> that was pointed out by the citi note that underwriters are much tighter these days. so the risk is we have all the starts and the home builders are doing well but they will reach the point where the buyers can't get the credit they need and demand is gone. >> that's...
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that's the so-called micro, the companies, and the macro, which are the governments. so we've got a flat line here, okay? that's how every day starts. of course, something does happen every day, which is why we are almost never flat, typically on days where central government or banks squawk newsom sort of data. so let's just presume we're never going to be in zero. then we get to earnings season and the equation changes dramatically. we get really granular. we extrapolate the heck out of each and every earnings report. so consider the box score from one 24-hour sports cycle, using the parlance of football. why not? it's football season. it will be easy for everybody. here is the first place. first we get earnings last night from yum! brands, parents of taco bell and pizza hut, and it is dynamite. restaurants all over the world, and why not, they have two million restaurants per million in the merging versus 58 per million here in america. china didn't slow as much as we thought. and taco bell tacked up 7%. same store sales growth. sellers think taco bell could be tak
that's the so-called micro, the companies, and the macro, which are the governments. so we've got a flat line here, okay? that's how every day starts. of course, something does happen every day, which is why we are almost never flat, typically on days where central government or banks squawk newsom sort of data. so let's just presume we're never going to be in zero. then we get to earnings season and the equation changes dramatically. we get really granular. we extrapolate the heck out of each...
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the government needs to clear the zone. they've offered these life preservers for years, and it prevents the healing process from truly beginning. >> jason, what do you think? you're arguing these programs should continue. why should taxpayers be subsidizing something banks would likely do on their own since it's in their best interest any way? >> there's a light at the end of the tunnel for homeowners who are under water. they can see the light at the end of the tunnel. what we're now proposing is to build another five miles of tunnel, and we're going to build those five miles in the next 83 days unless the extension is pass passed. we're at a critical moment in housing right now. the money is finally getting through to homeowners. now is not the time to allow them to go down into foreclosure. rick wanted to propose bulldozing. i'm proposing something sensible. >> i didn't propose it. in the extreme, it makes it so ridiculous that just because this is moving the process along quickly, doesn't mean it's right. the more free
the government needs to clear the zone. they've offered these life preservers for years, and it prevents the healing process from truly beginning. >> jason, what do you think? you're arguing these programs should continue. why should taxpayers be subsidizing something banks would likely do on their own since it's in their best interest any way? >> there's a light at the end of the tunnel for homeowners who are under water. they can see the light at the end of the tunnel. what we're...
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Oct 10, 2012
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not the one by the federal government, but one stress test nonetheless. among other findings here, the failing banks would have to raise an additional $25 billion in capital to achieve a passing grade. >> joining us now with exclusive details is matthew anderson. he's part of the company that conducted the study. how do you come up with this? what methodology did you use? >> i'm glad you outlined that our stress test is just that, it's our application of an economic scenario, a downside economic scenario to bank earnings and bank capital. so what we did is we took the sort of variables that the federal reserve was forecasting in their c-card stress testing of the largest banks and applied that same sort of scenario to the entire universe of banks. >> are you tougher than the feds? >> we're probably tougher in some areas. we don't have all the data at our fingertips that they have, so they have a bit of an information edge. but i think we're pretty harsh. >> now, the banks that you identified, are they small banks, are they banks that everybody knows, are
not the one by the federal government, but one stress test nonetheless. among other findings here, the failing banks would have to raise an additional $25 billion in capital to achieve a passing grade. >> joining us now with exclusive details is matthew anderson. he's part of the company that conducted the study. how do you come up with this? what methodology did you use? >> i'm glad you outlined that our stress test is just that, it's our application of an economic scenario, a...
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Oct 9, 2012
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people need to be learned not to be fooled by government's sleight of hand. the >> the problem is that we are reaching record highs, the numbers look good. to brian's point about mom and dad not necessarily opening their 401(k)s but the mom and pops participating in this rally? dave lutz, isn't this one of the sad factors, keep on moving higher? so many people burned during the financial crisis, they are not taking advantage of it? >> mandy, you're absolutely right. ici reported last week even though the stock indices almost doubled since our lows back in '09, investors pulled about $140 billion out of mutual funds and etfs, a couple of stunning facts, all that money seems to be flowing toward fixed income. vanguard reported the first time in history, bond funds bigger than stock funds. if i had dell disclosed last month, the size of their bond and money market assets almost $850 billion. that's more -- [ overlapping speakers ] >> -- about bonds -- >> the market is going to do whoever has the most participants. you are absolutely right. >> peter? >> i agree t
people need to be learned not to be fooled by government's sleight of hand. the >> the problem is that we are reaching record highs, the numbers look good. to brian's point about mom and dad not necessarily opening their 401(k)s but the mom and pops participating in this rally? dave lutz, isn't this one of the sad factors, keep on moving higher? so many people burned during the financial crisis, they are not taking advantage of it? >> mandy, you're absolutely right. ici reported...
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governments will continue with economic and fiscal adjustments. and only if the conditionality is fulfilled will the omts be successful toward moving the economy to what we might call a good equill will i be pre-up. omts are limited, but as i've just explained, they're notten conditional. unconditional. exit from omts would take place once their objectives have been achieved on when there is a failure to comply with the program. omts would not take place while the program is under review and they would resume after the review period once program compliance has been assured. consistent with the treaty prohibition of monday tar financing, the ecb will only conduct transactions on secondary markets buying there investors and not from governance. government bonds will remain maturities of between one and three years. this is in line with the traditional focus of central bank monetary operations. the ecb will accept the same treatment as private or other creditors with respect to bonds purchased in the context of omts and the ecb will be fully transpar
governments will continue with economic and fiscal adjustments. and only if the conditionality is fulfilled will the omts be successful toward moving the economy to what we might call a good equill will i be pre-up. omts are limited, but as i've just explained, they're notten conditional. unconditional. exit from omts would take place once their objectives have been achieved on when there is a failure to comply with the program. omts would not take place while the program is under review and...
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jpmorgan took over bear sterns at the behest of the government government, they didn't want to buy this bank. they only had a weekend to do whatever due diligence they should do so, why are you bringing this complaint against jpmorgan since he did what the government asked them to do? >> well, we started our investigation in the new york attorney general's office last spring and we were looking a at variety of institutions. the federal working group was founded by president obama in january and formed in months after that and started working with our federal colleagues who also had substantial information and pro-ed a lot of assistance in going after the misconduct at bear stearns, which quite frankly, was some of the most flagrant misconduct by any firm in the bundling and security z securitization of mortgage-backed securities. >> that took place before jpmorgan bought that. >> as the introduction said, when you buy a firm, you get the assets and you get the liabilities and we can't send a message that this kind of flagrant fraud, i mean, misrepresentations that they were monitoring t
jpmorgan took over bear sterns at the behest of the government government, they didn't want to buy this bank. they only had a weekend to do whatever due diligence they should do so, why are you bringing this complaint against jpmorgan since he did what the government asked them to do? >> well, we started our investigation in the new york attorney general's office last spring and we were looking a at variety of institutions. the federal working group was founded by president obama in...
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what is the role of government? the role of government should be limited to certain things. >> i'm just talking about big bird. i think that the country probably will do fine funding big bird for another few years. >> that's not the point. >> i think we'll be fine. >> you know we add another $400 million there, $400 million here. it's real money, bob. >> what do we have, a $4 trillion budget? >> you would blow $400 million because you like big bird? >> what benefit are we getting from having something like a national public radio? what benefit do we get out of that? i think we get benefits out of that. if you argue, why should we go to the moon? >> individuals will give money to them. that's how we do most organizations in this country. >> as you can see, we agree. up next, we're coming right back with the closing countdown. >> critics saying something is wrong with the jobs numbers today. the labor secretary rejecting those charges earlier. >> i'm insulted when i hear that because we have a very professional civil
what is the role of government? the role of government should be limited to certain things. >> i'm just talking about big bird. i think that the country probably will do fine funding big bird for another few years. >> that's not the point. >> i think we'll be fine. >> you know we add another $400 million there, $400 million here. it's real money, bob. >> what do we have, a $4 trillion budget? >> you would blow $400 million because you like big bird? >>...
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under the law, the government could recover triple damages. this is a $570 million suit against wells fargo. we're following it. we'll teep you posted. back to you. >> just off the lows, scott, thank you very much. we're heading toward the close, otherwise, with about 30 minutes left. the dow down 100 points at this hour. when we come back, we look at the health of wall street. new york state comptroller on the looming -- whether the looming fiscal cliff and increasing regulation are threatening wall street's comeback these days. plus, speaking of which, nearly half of all wall streeters are expecting a bigger bonus this year. will they get it in and more importantly, do they deserve it? that debate is coming up. and from bull market speed bump to chaos. breaking out at a bull fight in colombia. we're just wondering, is this scene a preview of what may be coming to our stock market? tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm tra
under the law, the government could recover triple damages. this is a $570 million suit against wells fargo. we're following it. we'll teep you posted. back to you. >> just off the lows, scott, thank you very much. we're heading toward the close, otherwise, with about 30 minutes left. the dow down 100 points at this hour. when we come back, we look at the health of wall street. new york state comptroller on the looming -- whether the looming fiscal cliff and increasing regulation are...
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it reflects government general mismanagement of the economy. as we look as the government tries to respond, we see the faction alism and lack of attitude to be able to deal with international or domestic issues. >> if the sanctions begin to have some impact, what does that do on the political front? does it weaken the current establishment or does it in some ways sort of entrench it? >> a mixture of both to be honest. i think what we will see is political establishment, conservative faction try to push the blame for this on to ahmadinejad's government. and we've seen already that from various stapts. but what it does do is allow those that are heavily involved in the revolutionary guards to continue profiting from iran's isolation. what we're not seeing yet is the significance to change around the nuclear program which is ostensibly the aim of international sanctions. >> so who are the population blaming for higher inflation and access to -- are they blaming the government or are they blaming foreign countries? >> they know it that the governme
it reflects government general mismanagement of the economy. as we look as the government tries to respond, we see the faction alism and lack of attitude to be able to deal with international or domestic issues. >> if the sanctions begin to have some impact, what does that do on the political front? does it weaken the current establishment or does it in some ways sort of entrench it? >> a mixture of both to be honest. i think what we will see is political establishment, conservative...
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business and the federal government, and that he saw the real benefits. he concluded there on the idea that it was a collaboration, basically, between the federal government and a predecessor of boeing that put a person on the moon 40-some years ago. and those are interesting points, a theme that he has struck many times and it is one of the things that i think has entered into this life-long democrat's relationship with the current administration. it's where he has parted company with them. >> it's going to be interesting. he says he's not interested in running for public office. but you just wonder whether or not he wouldn't accept a treasury secretary position if indeed one was offered under either administration. >> yeah. he was certainly explicit about that in his comments in "vanity fair" magazine, that he didn't want it, "i shall not seek, nor will i accept --" >> but on the other hand hank paulson didn't want it either but he took it because of the financial situation the united states was in at the time. >> exactly. >>> now to bertha coombs who's
business and the federal government, and that he saw the real benefits. he concluded there on the idea that it was a collaboration, basically, between the federal government and a predecessor of boeing that put a person on the moon 40-some years ago. and those are interesting points, a theme that he has struck many times and it is one of the things that i think has entered into this life-long democrat's relationship with the current administration. it's where he has parted company with them....
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the first is people and the second is government. >> you're right. if robots taught classes, it would be cheaper. >> exactly. the student/teacher radio in 1980 was 16-1. the student to teacher ratio in 2011 was 16-1. the student-teacher ratio in ancient greece was probably 16-1. to replace people with technology, costs tend to up go and up. the second more recent development is that a state budgets have cut their support for tuition. we've seen that they can cut the support for college. we've seen colleges have had to increase tuition in order to make up that money. you have people on the one hand and their ability to be replaced, then you have dpoft on the other hand. >> i'm wondering -- one of the reasons here is more demand. these days, everybody feels like they need to go to college. right? so obviously demand is fueling this as well but i'm just wondering at what stage will there be a self-correcting cycle? in other words, demand will drop because costs are just getting to high? >> right. the fact is that the price of college is rising and risin
the first is people and the second is government. >> you're right. if robots taught classes, it would be cheaper. >> exactly. the student/teacher radio in 1980 was 16-1. the student to teacher ratio in 2011 was 16-1. the student-teacher ratio in ancient greece was probably 16-1. to replace people with technology, costs tend to up go and up. the second more recent development is that a state budgets have cut their support for tuition. we've seen that they can cut the support for...
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there is no role of the chinese government in the company. the committee knows full and very well that when they visited our facilities, that they actually had access to the entire list of all 65,000 of our employee shareholders. look, this industry -- the committee is focused on cyber security concerns. those are very legitimate concerns. but, the fact of the matter is, it's a global industry. hauwei, cisco, eriksson, nokia se seimens operating on a common stage with overlapping -- there are cyber concerns but they are universal. anything short of universal solutions is nothing but political gamesmanship. >> i've done a lot of reporting on it. it goes back to the chinese, broadly speaking, to spy, usually using the internet on u.s. corporations and to steal their secrets wherever they may be and whatever way the chinese can. many say about hauwei, in fact, it came from virtually nothing as a result of today because of stolen intellectual property. how do you respond to that? certainly, you must understand that in the context of that belief,
there is no role of the chinese government in the company. the committee knows full and very well that when they visited our facilities, that they actually had access to the entire list of all 65,000 of our employee shareholders. look, this industry -- the committee is focused on cyber security concerns. those are very legitimate concerns. but, the fact of the matter is, it's a global industry. hauwei, cisco, eriksson, nokia se seimens operating on a common stage with overlapping -- there are...
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why do you think business leaders fail in government? >> well, ting just requires a very different talent set. governments are democracies. businesses are not. good businesses are not run as democracies. government lives, breathes, and dies on fairness. businesses live on efficiency and innovation. there are many other reasons of that nature. the talents are not transferable. >> they're not transferable. i don't understand that. why wouldn't the talents of leadership be transferable? for example, one thing that president obama has been unable to do is really bring the two sides together. it feels like this country is as more divisive than it ever has been. isn't a good leader's job to bring poeople together so they can buy into the leader's vision? >> it is, but it's very, very different than the business world. you'll have a ceo who's surrounded by staff and subordinates that are basically supposed to adopt his vision. the president is surrounded by members of congress who have minds of their own and off partisan gripes with the preside
why do you think business leaders fail in government? >> well, ting just requires a very different talent set. governments are democracies. businesses are not. good businesses are not run as democracies. government lives, breathes, and dies on fairness. businesses live on efficiency and innovation. there are many other reasons of that nature. the talents are not transferable. >> they're not transferable. i don't understand that. why wouldn't the talents of leadership be...
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not government handouts but trying to get educated engineers to help these companies. i would reappoint ben bernanke as chairman of the federal reserve. if it weren't for him, he would never have gotten out of the great depression to begin with. without bernanke, we have nationalized the banks and be stuck with unemployment over 10%. here's the bottom line. nobody asked me. i'm not running. i'm not part of any debate. but i stand for higher stock prices for all. if you elect me,ly put through my plan to switch to clean burning natural gases, lower taxes on dividend, educate the masses on money, clean up the skies, rebuild our infrastructure and reappoint bernanke to give liberty, justice and higher stock prices for all. that's a platform i could vote for, if only obama or romney would embrace it. lawrence in texas, lawrence? >> caller: jim, how are you doing? i have a question for you today regarding rpm. the earning report came out today. long or short in the stock? >> short that, you have to short that plentiful dividend. i never recommend that idea. you don't want t
not government handouts but trying to get educated engineers to help these companies. i would reappoint ben bernanke as chairman of the federal reserve. if it weren't for him, he would never have gotten out of the great depression to begin with. without bernanke, we have nationalized the banks and be stuck with unemployment over 10%. here's the bottom line. nobody asked me. i'm not running. i'm not part of any debate. but i stand for higher stock prices for all. if you elect me,ly put through...
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if we see our government doing the same thing, having a very comprehensive response to the fiscal cliff, something like simpson-bowles, 4-plus, $5 trillion over a period of time, you'll see a huge rally. on the other hand, if we see this dragging out, if they have to have it delayed, it doesn't happen after the lame duck session, after the election, it drags on to february, drags on to march. we will have a recession in the first quarter. we'll have negative gdp in the first quarter. despite my bullishness out a year, we could have some real volatility. i would suggest if we have that real volatility, it's a great buying opportunity for everybody out there. but in my conversation with many of the men and women in washington, i'm trying to be as large of an alarmist as i can to make sure we focus on the fiscal cliff and we have a resolution as fast as possible. >> absolutely. and europe, have we seen the worst there? >> europe is a seven-year fix. we have a great plan that the ecb has created, but we also need politicians to agree on it. >> similar problems. >> the dynamic is very rough.
if we see our government doing the same thing, having a very comprehensive response to the fiscal cliff, something like simpson-bowles, 4-plus, $5 trillion over a period of time, you'll see a huge rally. on the other hand, if we see this dragging out, if they have to have it delayed, it doesn't happen after the lame duck session, after the election, it drags on to february, drags on to march. we will have a recession in the first quarter. we'll have negative gdp in the first quarter. despite my...
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>> let me ask you about the role of the board here and corporate governance. this is a company that's had several ceos in the last few years. what company could survive bringing in several different ceos, all of which have had different ways to run the company? doesn't the board bear some responsibility for the problems that this company is having? >> of course. in fact, i wrote a blog for cnbc a month or two ago talking about board accountability in general. i think boards aren't held sufficiently accountabilile for company performance. certainly in the case of hp, what you see is a board that has made a series of decisions, whether it's acquisitions or spinoffs and changing their mind or ceos, leaks and scandals and spying and everything else. i think they've made a series of decisions that have harmed this company without a doubt. >> when you say there's not enough time, what do you mean by that? that could sound ominous. >> it's not an hp-specific comment. this is the 21st century. these are incredibly competitive markets. >> does that mean the stock goes
>> let me ask you about the role of the board here and corporate governance. this is a company that's had several ceos in the last few years. what company could survive bringing in several different ceos, all of which have had different ways to run the company? doesn't the board bear some responsibility for the problems that this company is having? >> of course. in fact, i wrote a blog for cnbc a month or two ago talking about board accountability in general. i think boards aren't...
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Oct 8, 2012
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they took it at the government's behest. so what was it about this particular situation that did not allow her to execute the way that she had in the past? >> i think that she would probably say that she had a lot of faith in the traders who were working below her, and she would probably say the same thing that jamie dimon said about her, which was that he had total faith in her and she had total faith in the people operating under her, and as jamie said, you trust but verify and there wasn't enough verifying going on, unfortunately. >> she was well liked by most of her colleagues, if not all of her colleagues. you quote a number of them in the article. singing her praises. yet there was one particular meeting in new york between the london office and the new york office, and that certainly was not the type of atmosphere that she found herself in. as a matter of fact, it was quite acrimonious. >> i think that everyone would agree ina could be very, very tough when she needed to be but i do think the relationship between her
they took it at the government's behest. so what was it about this particular situation that did not allow her to execute the way that she had in the past? >> i think that she would probably say that she had a lot of faith in the traders who were working below her, and she would probably say the same thing that jamie dimon said about her, which was that he had total faith in her and she had total faith in the people operating under her, and as jamie said, you trust but verify and there...
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Oct 2, 2012
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government. jpmorgan stock closing up 1.2%. and "new york times" says u.s. senate will try to use the lame duck session to reach a comprehend len sif deal to cut the deficit instead of a short term solution. lawmakers will reportedly agree on a specific target likely around $4 trillion over ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how sdw this get resolved? >> well, i haven't heard that sister, but that's what we've been picking up, that in the background of all these guys working on the deal already. soon after the election, our best guess is that there will be one. not too different from that story actually. >> qe-3 meanwhile, how does that play? does that continue to support lift asset prices? how do commodities get in the wash between slowing chinese growth and fed action? >> that's a good question. because i think it's a big one. i think we're
government. jpmorgan stock closing up 1.2%. and "new york times" says u.s. senate will try to use the lame duck session to reach a comprehend len sif deal to cut the deficit instead of a short term solution. lawmakers will reportedly agree on a specific target likely around $4 trillion over ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how...
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Oct 10, 2012
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government suing the nation's biggest mortgage lender. we'll take a look at how the global industry is faring. then it's off to paris. the stricken car maker is downgraded by moody's a day after demonstrators stage protests. we'll have details from the french capital. and we'll head to new york where there's an appetite for young, profits that is, up nearly a quarter from a year earlier. we'll take a look on a big day for earnings on wall street. and a big week that's coming up. joining us now onset, though, bob mckey. bob, you're here with us, chief economist from independent strategy. i guess let's just begin by talking a little bit about some of these headlines that we're hearing from the imf regarding financial stability. obvious, i guess, to sort of draw attention to this issue, but in your mind, is there still lingering risk out there from the lack of reform, i guess, in some areas of the industry? >> i think what the global stability report is showing -- it's the third report the imf brings out at this semiannual meeting. everybody
government suing the nation's biggest mortgage lender. we'll take a look at how the global industry is faring. then it's off to paris. the stricken car maker is downgraded by moody's a day after demonstrators stage protests. we'll have details from the french capital. and we'll head to new york where there's an appetite for young, profits that is, up nearly a quarter from a year earlier. we'll take a look on a big day for earnings on wall street. and a big week that's coming up. joining us now...
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Oct 4, 2012
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i trust the balance sheets of corporate america far more than i trust the government's balance sheet. this is hardly a reckless position and would encourage companies to reward shareholders by issuing and raising dividends. i would actually raise the tax make up for that lost revenue because i'm not irresponsible and reckless. i would actually raise the tax on capital gains. why? you get gains when you sell stocks. i don't want people to sell stocks. i want them to own stocks, not sell them. plus if you raised the tax on capital gains, the company that do these stupid buybacks would continue to do them, continue to waste is the shareholders' money like they do now. put the money in the owners' pockets, not the sellers' pockets, by encouraging saving, not flipping. point number two, we have to clean up these markets. clean up the markets and encourage people on the sidelines to come back in. make them. clean up the stables, like hercules. i would do that by appointing preet bharara as attorney general of the united states of america and have him go after all of these insider traders an
i trust the balance sheets of corporate america far more than i trust the government's balance sheet. this is hardly a reckless position and would encourage companies to reward shareholders by issuing and raising dividends. i would actually raise the tax make up for that lost revenue because i'm not irresponsible and reckless. i would actually raise the tax on capital gains. why? you get gains when you sell stocks. i don't want people to sell stocks. i want them to own stocks, not sell them....
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Oct 3, 2012
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because the government changes took the shine off the sector. we know it's a very expensive industry that requires a lot of capital at the early phase. do you think the investment banks are willing to run the ticket on this because of the dynamics that play out in the sector? >> there is a bit of concern there with funding. but at the end of day, across europe, we're committed to reducing our carbon generating capacity, and the only way we can do that is through the construction of low carbon generating power stations and nuclear is one of those solutions. >> thank you very much for joining us today, scott parker on set with us today. >>> a move to raise cash and reduce a debt pile, the spanish telecomgiant says it has not decided what percent of capital it will float, but it does plan a controlling stake in the company. telecom has confirmed it's in discussions to combine with smaller rival metro pcs. deutsche telecom could come a step closer to exiting the market. they moved to call speculation saying significant issues were still outstanding
because the government changes took the shine off the sector. we know it's a very expensive industry that requires a lot of capital at the early phase. do you think the investment banks are willing to run the ticket on this because of the dynamics that play out in the sector? >> there is a bit of concern there with funding. but at the end of day, across europe, we're committed to reducing our carbon generating capacity, and the only way we can do that is through the construction of low...
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then france and the government would like to buy this stake. but if there is a limit of 10%, it won't be pobl. so in that case, france would be blocked. that's why the reason the government doesn't want to sign anything now which would jeopardize the future of its stake in eads. and that's the main problem from the french perspective. >> all right. what do you think, do you think we'll resolve it? stefane, if you were a betting man. >> it took years for french and german people to work together in eads and it was assigns very difficult. sorry for patricia, but it was very difficult to work together because of course there are national influences. if you want a couple to become a threesome, it will be difficult at least at the beginning. and i'm not sure that a couple of extended weeks we could have to reach a deal would be enough to make it work at least on the political side. >> do you think we'll pull off a threesome, i guess paris would be the place to do it. but we'll see what happens. unfortunately patricia's gone, so we've lost her. never
then france and the government would like to buy this stake. but if there is a limit of 10%, it won't be pobl. so in that case, france would be blocked. that's why the reason the government doesn't want to sign anything now which would jeopardize the future of its stake in eads. and that's the main problem from the french perspective. >> all right. what do you think, do you think we'll resolve it? stefane, if you were a betting man. >> it took years for french and german people to...
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Oct 2, 2012
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government doing to restore confidence? they're hosting a roundtable to discuss technology and training. we are joined live from washington, d.c. with more on that. aman. >> it's a day-long roundtable ongoing right now. they're hearing from a variety of industry experts from exchanges and from players who are buying and selling stocks. the message that they get from some of these computer experts is that there is no such thing as absolutely perfect software that doesn't have any errors in it. that is a scary message for people who got millions of dollars on the line with some of these software programs that are trading at such high frequency in the market these days. they also heard a variety of reform pro p pofls including this idea from lou pastina from the new york stock exchange. >> we believe a kill switch could be designed at the exchange level that would halt quoting and trading activity of a broker dealer if it exceeded the established peak net notion of value threshold set by the broker dealer. >> another issue tha
government doing to restore confidence? they're hosting a roundtable to discuss technology and training. we are joined live from washington, d.c. with more on that. aman. >> it's a day-long roundtable ongoing right now. they're hearing from a variety of industry experts from exchanges and from players who are buying and selling stocks. the message that they get from some of these computer experts is that there is no such thing as absolutely perfect software that doesn't have any errors in...
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the state oil giant accounts for a huge a government revenue. isn't it time to wean the government off too much dependence on foreign revenues? >> yes that's going to be our medium term strategy because over the dependence on oil as a finite resource is not good. we have to educate our people, as well, because petrol and ltg are very high will you sly subs this country. people scream when you try to raise the price of petrol, but people have to be realistic. in the long term, we cannot be over dependent on subsidies. and we have to diversify the economy. especially in terms of government revenue. and this is what we're going to do. we are creating more and more growth industries that will give us a strong financial base later on. >> the future of made laid i can't, the plan to transform it, let me ask you in order to chief that target, that goal, how important are these upcoming elections for you and how important is it that you receive a freshman date? >> i'd like to have a strong mandate because to achieve our vision of a fully developed natio
the state oil giant accounts for a huge a government revenue. isn't it time to wean the government off too much dependence on foreign revenues? >> yes that's going to be our medium term strategy because over the dependence on oil as a finite resource is not good. we have to educate our people, as well, because petrol and ltg are very high will you sly subs this country. people scream when you try to raise the price of petrol, but people have to be realistic. in the long term, we cannot be...
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markets, something happens where either the government sits there and starts an antitrust -- i'm not saying apple will because they don't have it. every company has had something come up to it where they've broken it up or broken it back. at&t was broken up. microsoft -- i don't know -- >> when you're the tallest nail in the room, right, somebody's got a hammer. >> absolutely. i'm not saying that's going to happen to apple but it has happened in the past. >> you're dealing with a company that literally moves gdp, right? i mean, it's that significant, sam, what apple does. >> it and the three other tech stocks in the s&p that are the largest are larger than 200 stocks in the s&p. so you just get those three tech stocks -- those four tech stocks to do something good or bad and drags everybody else with it. >> i don't know about my sense of morality but it used to financials and it's not anymore. is that good? >> we see the rotation. it used to be the energy
markets, something happens where either the government sits there and starts an antitrust -- i'm not saying apple will because they don't have it. every company has had something come up to it where they've broken it up or broken it back. at&t was broken up. microsoft -- i don't know -- >> when you're the tallest nail in the room, right, somebody's got a hammer. >> absolutely. i'm not saying that's going to happen to apple but it has happened in the past. >> you're dealing...
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sitting on the board of cisco and ceo john chambers recently said whoever wins this election should govern like bill clinton as he spoke about clinton's effectiveness. what's going on from your view sitting on the board of cisco, having the experience that you've had at yahoo! tell me how you see the environment changes and where specifically you would expect growth to happen in technology in the next five years. >> well, i think technology in general -- probably the biggest challenge is not so much the social interactions but everybody's talking so much about data. data is very, very hard to mine correctly. so i think you're going to see a push back towards a lot of enterprise apps that really figure out how it get information to the companies so they can actually be more personalized for the user, but easy to say, a lot to do. >> and really quick, on what you're seeing out there, how tough is europe right now for technology? what are you seeing in terms of the global slow down? >> well, europe continues to baffle us in general in technology. it looks like it's getting softer, not stronge
sitting on the board of cisco and ceo john chambers recently said whoever wins this election should govern like bill clinton as he spoke about clinton's effectiveness. what's going on from your view sitting on the board of cisco, having the experience that you've had at yahoo! tell me how you see the environment changes and where specifically you would expect growth to happen in technology in the next five years. >> well, i think technology in general -- probably the biggest challenge is...
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they are not complaining the government. >> now, bill, zoom in here. at this particular gas station, the owners have put up signs saying sorry, it's not our fault. we are hearing that some stations that are out have been resupplied but some are only getting half orders. maybe you better get your bass by lunch time or mid afternoon if you don't want to run short somewhere. a consortium has asked the state resources board to give them a waiver so they can use other types of gasoline not usually allowed in california. the resources board tells us they are still considering that issue. back to you. >> jane, thank you. >>> so what must happen to get individual investors to come back into a market, a market that keeps on rising and are more layoffs coming on wall street? kayla tausche is on the case. >> we've been talking all day about job growth. it is happening everywhere but wall street. we'll give you the layoff landscape and hiring picture for the overall financial industry coming up. a crash management system and the world's only tridion safety cell wh
they are not complaining the government. >> now, bill, zoom in here. at this particular gas station, the owners have put up signs saying sorry, it's not our fault. we are hearing that some stations that are out have been resupplied but some are only getting half orders. maybe you better get your bass by lunch time or mid afternoon if you don't want to run short somewhere. a consortium has asked the state resources board to give them a waiver so they can use other types of gasoline not...
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Oct 9, 2012
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in celebration of over 75 years of our government employees insurance company, or geico...as most of you know it. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newcaster: breaking news. the gecko is demanding free pudding. and political parties that are actual parties! with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. >>> the panic in apple is thick. everyone has decided it's finished, right, it's going down, down, down. every day it's going down. all i heard today is today it broke the 50-day moving average. as if somehow the company that steve jobs created is entirely independent in the end on a chart. how about this? if you don't own any, if you luck into some, you know my view about apple. it's an investment, not a trade. pe
in celebration of over 75 years of our government employees insurance company, or geico...as most of you know it. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newcaster: breaking news. the gecko is demanding free pudding. and political parties that are actual parties! with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. >>> the panic in apple is...
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the government has been losing jobs. we can argue about the thousands here, 1,000 here, 10,000 there, the economy has been growing at 1.5 to 2%. in the 150, 160,000 range. the better argument for the future would be one where we're arguing over 250 versus 150. >> steve, you know what i find fascinating? it seems as though we just keep shaving the curve a bit when data is doing better several months ago. we were too optimistic. when data started to do reversals of late, maybe we were too pessimistic. we're in the middle zone. 162,000, it might be better than they were expecting. currently on jobses we've averaged a smidgen for the third quarter. i guess in the end the numbers give me confidence because it is a bigger part of the economy. but none of this is to write home about on the recession side. >> my perspective is i'm afraid we're falling off a cliff. the ism numbers don't tell us that. it shows that we're in a modest area and recession is not around the corner. but let's say your test is putting millions back to wo
the government has been losing jobs. we can argue about the thousands here, 1,000 here, 10,000 there, the economy has been growing at 1.5 to 2%. in the 150, 160,000 range. the better argument for the future would be one where we're arguing over 250 versus 150. >> steve, you know what i find fascinating? it seems as though we just keep shaving the curve a bit when data is doing better several months ago. we were too optimistic. when data started to do reversals of late, maybe we were too...
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. >>> used to seeing the federal debt clock, forget the government. here is a city with 21 billion of red ink just for pen eggses and put residents on in the, we need to fix our things or your property taxes will be tripled. guess which city this is. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. hey, it's sandra -- from accounting. peter. i can see that you're busy... but you were gonna help us crunch the numbers for accounts receivable today. i mean i know that this is important. well, both are important. let's be clear. they are but this is important too. [ man ] the receivables. [ male announcer ] michelin knows it's better for xerox to help manage their finance processing. so they can focus on keeping the world moving. with xerox, you're ready for
. >>> used to seeing the federal debt clock, forget the government. here is a city with 21 billion of red ink just for pen eggses and put residents on in the, we need to fix our things or your property taxes will be tripled. guess which city this is. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education....
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that a bigger government, spending more, taxing more, regulating more, if you will, trickle down government would work. >> mitt romney during the debate, intrade contracts all over the place during his exchanges with president obama. and i guess we've been in the twitter world unbeknownst for me for a while. >> i can't believe you figured it out part way through. >> i was looking at blogs, trying to see what people -- whether i could get any immediate reaction to how it was going. and then i check my e-mail and it said matt mentioned you in a twitter thing. and i'm going -- and then it occurred to me, shy see what people on twitter are saying. and then i did it and it opened up the world.i should see what people on twitter are saying. and then i did it and it opened up the world. >> the one thing i decided is i don't follow enough people. i wanted even more. i follow 181 people. today i'm going to add another 100 people because i wanted more last night. >> and i never thought i would follow bill maher necessarily. and now i realize that a cutting edge comedian, even with someone he loves, h
that a bigger government, spending more, taxing more, regulating more, if you will, trickle down government would work. >> mitt romney during the debate, intrade contracts all over the place during his exchanges with president obama. and i guess we've been in the twitter world unbeknownst for me for a while. >> i can't believe you figured it out part way through. >> i was looking at blogs, trying to see what people -- whether i could get any immediate reaction to how it was...
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in celebration of over 75 years of our government employees insurance company, or geico...as most of you know it. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newcaster: breaking news. the gecko is demanding free pudding. and political parties that are actual parties! with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. zagat just gave hertz its top rating in 15 categories, including best overall car rental. so elevate your next car rental experience with the best. it's just another way you'll be traveling at the speed of hertz. now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we believe there's never been a better time to share your passions... because the results... are you having fun doing this? yeah. that's a very nice cake! [ male announcer ] well, you can't beat them. [ giggles ] ohh! you got something huh? whoa... [ male announcer ] humana understands the value of spending time together
in celebration of over 75 years of our government employees insurance company, or geico...as most of you know it. ...i propose savings for everyone! i'm talking hundreds here... and furthermore.. newcaster: breaking news. the gecko is demanding free pudding. and political parties that are actual parties! with cake! and presents! ah, that was good. too bad nobody could hear me. geico. fifteen minutes could save you fifteen percent or more on car insurance. zagat just gave hertz its top rating in...
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the government could be bigger but we have to tax people in order to have the government bigger. what do you want a smaller government? we have to balance this thing out. >> everything i here is you have to tax more just to pay off our deficit. you have to cut spending and look at the federal reserve running out of things it can continue to do. >> you don't have to pay off the deficit. nobody's ever paid off the deficit or gone -- the policy of paying off the deficit doesn't work. we pay off the deficit because you like clinton, make the economy grow so much, somehow money falls from heaven and the deficit goes away but they certainly didn't start off with a policy i'm going to pay off the deficit. nobody ever said that. >> do you think there's any scenario that someone gets elected, they do some things that make us get back to 3 to 3.5% growth which makes this a whole different picture? >> there must be a scenario. i can't lay it out but there are a lot of things that can happen. in the u.s. the dollar is low and that's a critical input. if you look at where growth has got to co
the government could be bigger but we have to tax people in order to have the government bigger. what do you want a smaller government? we have to balance this thing out. >> everything i here is you have to tax more just to pay off our deficit. you have to cut spending and look at the federal reserve running out of things it can continue to do. >> you don't have to pay off the deficit. nobody's ever paid off the deficit or gone -- the policy of paying off the deficit doesn't work....
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they don't need a government report. it does get a lot of attention and we got a race that's plainly at this point even though obama still has a slight advantage in the battleground states this race can go either way. >> interesting. then we got the governor, of course, speaking at vmi about foreign policy, an area for which a little while he appeared to want to take the campaign, at least before the debate. how ground moving is this? >> reporter: i don't think it's very ground moving. it's not what people will vote on. for romney it's an effort to press a leadership advantage which may be one of the things that move the numbers for him after the debate. he looks strong on the stage with president obama. he took the fight to obama. obama was a little bit more passive. but ultimately the economy, i believe, carl, is going to be what drives the result. >> if anyone who watched snl over the weekend knows the president wasn't that passive. thanks, john, we'll see you later, john harwood in washington. netflix is up 10%, 30%
they don't need a government report. it does get a lot of attention and we got a race that's plainly at this point even though obama still has a slight advantage in the battleground states this race can go either way. >> interesting. then we got the governor, of course, speaking at vmi about foreign policy, an area for which a little while he appeared to want to take the campaign, at least before the debate. how ground moving is this? >> reporter: i don't think it's very ground...
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they are also blaming less government spending in europe on health care. also lack of reimbursements for medicare programs here in the united states. as you can see, it is down 18% at 86.60. back to you. >> wow, what a movement. thank you. >>> can you take the pain on apple, down about 9% since the iphone 5 went on sale. is it about fundamentals or something else behind the tech darling's big fallback. >>> also ahead, the game risk, no, it is not the handy board game, but big money is at stake with more regulation. find out how it can put the financial system in jeopardy. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha! i'm gonna stand up to her! no you're not. i know. you know ronny folks who save hundreds of dollars switching to geico sure are happy. how happy are they jimmy? happier than a witch in a broom factory. get happy. get geico. fifteen minutes could save you fifteen percent or more. we don't call this our company, we call this our mission. green toys teaches children that if i have a milk jug and i stick it in the recycling
they are also blaming less government spending in europe on health care. also lack of reimbursements for medicare programs here in the united states. as you can see, it is down 18% at 86.60. back to you. >> wow, what a movement. thank you. >>> can you take the pain on apple, down about 9% since the iphone 5 went on sale. is it about fundamentals or something else behind the tech darling's big fallback. >>> also ahead, the game risk, no, it is not the handy board game,...
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remember, the problem is we've got these government shareholders, the british uk, british government and bae, and the eads who all wants slightly different things. we heard today from the foreign secretary william haig who explains the u.s. strategy in bae and that aligns, as well. if there was anything to dilute that in the merger, they wouldn't support it either. we've already heard it this week, over 13% of the private share holding. that they are opposed to the deal on current terms, particularly worried about solution. they also get quite a nice free cash flow from bae and a nice dividend. they're worried about that being diluted. and they don't see the logic necessarily. there's a lot of hurridles. and very quickly, we have an auction out for italy out this morning. yield does go slightly higher on the three and 12 months. slightly higher yields for italy, in the cash market, 5%, and spain, they've come back down to 5.78%, well below 6%. that's where we stand. back to you guys. >> ross, do you see this nigel dude from yesterday, the guy from the uk. >> he's fantastic. >> nigel
remember, the problem is we've got these government shareholders, the british uk, british government and bae, and the eads who all wants slightly different things. we heard today from the foreign secretary william haig who explains the u.s. strategy in bae and that aligns, as well. if there was anything to dilute that in the merger, they wouldn't support it either. we've already heard it this week, over 13% of the private share holding. that they are opposed to the deal on current terms,...
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that makes sense, good at growing government and good at being part of government but i don't know -- >> the right person in that office could do wonders for this country. >> it should be about jobs. it shouldn't be about taxes. it should be about jobs, jobs, jobs. donald trump, thank you. >> so long, so long, sam. >> bye-bye now. >>> coming up next, bill ackman's big investing idea the activist fund manager joining to us discuss where he's putting his money to work plus why he's putting pressure on p&g to get rid of the company's ceo, that interview coming up after the break. [ male announcer ] for the saver, and a big first step. for the spender who needs a little help saving. for adding "& sons." for the dreamer, planning an early escape. for the mother of the bride. for whoever you are, for whatever you're trying to achieve, pnc has technology, guidance, and over 150 years of experience to help you get there. ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or make 70,000 trades a second... ♪ reach one customer at
that makes sense, good at growing government and good at being part of government but i don't know -- >> the right person in that office could do wonders for this country. >> it should be about jobs. it shouldn't be about taxes. it should be about jobs, jobs, jobs. donald trump, thank you. >> so long, so long, sam. >> bye-bye now. >>> coming up next, bill ackman's big investing idea the activist fund manager joining to us discuss where he's putting his money to...
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Oct 4, 2012
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what are you going to do to turn around the chinese government, the chinese government to buy more coal, doing know. but today you can see a nice little move up. >> at least in that sector, the cause and effect is a little more clear. thanks, bob. of course, the markets, are they getting a boost after last night. we're joined here at post 9. good to see you as always. what do you make of the argument that this is somehow related to the race for the white house? >> you know, i think investors are looking for any opportunity to buy into the market. we've seen the waves trend higher an higher. there have been cell signal-- s signals. everyone was expecting some resort. >> is there much hesitancy for investors? >> i think there's still signals to stay in this market. we have a lot. like you said, earnings season, we still have a lot of economic data, jobs numbers coming out tomorrow. investors want to be in this market. i think reason for them to stay in the market, the magnetic effect is still here. >> a couple of weeks ago the journal has said o those who have ridden the rally are going t
what are you going to do to turn around the chinese government, the chinese government to buy more coal, doing know. but today you can see a nice little move up. >> at least in that sector, the cause and effect is a little more clear. thanks, bob. of course, the markets, are they getting a boost after last night. we're joined here at post 9. good to see you as always. what do you make of the argument that this is somehow related to the race for the white house? >> you know, i think...
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he's going to end the government-run health care system. these look like very attractive sectors to me in view of what's coming politically in less than four weeks. >> until you called the election tonight, larry, i didn't know which way it was going to go. but now that you've explained that romney is going to win, then, yes, those are the sectors that i want to buy. but, larry, we still have problems here. we still have this congress whose approval rating is as low as it's ever been and deservedly so. i think these guys are still skating by. i think they're still overrated. without leadership here -- >> let me -- larry, you're absolutely right the doom and gloom coming out of the imf is totally wrong. there are plenty of pockets of strength. you have a picture distorted by a few bad apples, like the spanish who got everything wrong. the southern european welfare states are dying. but china's doing well. germany's exports -- china's were up 10% year over year in august. >> the doom and gloom is not wrong yet. >> germany's exports -- the u.s
he's going to end the government-run health care system. these look like very attractive sectors to me in view of what's coming politically in less than four weeks. >> until you called the election tonight, larry, i didn't know which way it was going to go. but now that you've explained that romney is going to win, then, yes, those are the sectors that i want to buy. but, larry, we still have problems here. we still have this congress whose approval rating is as low as it's ever been and...
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he said 4 million is reasonable, but the federal government is not being helpful. i know you favor all sort of energy, solar, fantastic. what do you say about the 4 million? >> actually, a say that we need to create more jobs across the board and particularly, highly skilled people to work in the refinery and production areas where we're finding more energy and we have to have a balance, so i'm totally for that. i encourage more a perennisship programs and training in that area. we have a high need for welders and people working in refineries and i'm all for paying for those jobs and looking at other alternative forms of energy and we have to have a balance of both. >> the unemployment rate falling below 8% for the first time since january 2009 and i'm sure the labor department was hearing about that this morning. at the same time, can you tell the american people that this 7.8 number marks the turnaround that we have seen the worse when it comes to the labor market. i would say we still have a ways to go and we have it well below 12 million and we have to continue
he said 4 million is reasonable, but the federal government is not being helpful. i know you favor all sort of energy, solar, fantastic. what do you say about the 4 million? >> actually, a say that we need to create more jobs across the board and particularly, highly skilled people to work in the refinery and production areas where we're finding more energy and we have to have a balance, so i'm totally for that. i encourage more a perennisship programs and training in that area. we have a...
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so you don't say the government's lying. you can't say that. yet if you add in two months more government workers than at any it time since 1948 for the past two months, the government can do -- >> but that goes to his point the u-6 number is -- i don't know if it's more accurate. >> it's broader and takes in to account the part-time workers that don't want to be part-time. they want the full-time job. so it's a broader measure of giving us the breadth of the labor market and the health of it and that's why when i say the unchanged number, i sort of ignored the headline number and didn't think it was that big of a deal. >> normally we'd focus on the 114, but, man, when you can go to 7.8 -- accoucan the fundamen catch up with where the market is? can it just tread water and the full fundamentals come up? >> look at all the global printing. >> all right. we have to go. jeff, you'll just have to agree with peter on this one. >> okay. see you next time. >>> if you have any comment ors questi question, e-mail us. still ahead, did you ever wonder how
so you don't say the government's lying. you can't say that. yet if you add in two months more government workers than at any it time since 1948 for the past two months, the government can do -- >> but that goes to his point the u-6 number is -- i don't know if it's more accurate. >> it's broader and takes in to account the part-time workers that don't want to be part-time. they want the full-time job. so it's a broader measure of giving us the breadth of the labor market and the...
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government in anti-trust when they decided he was one more civil servant, that was the top. government plays for keeps, and never mess with the person who works because they care, i suppose, for the money. >> unlimited check and a lot of lawyers. >> one certain wells fargo lawsuit? >> i thought that was a very -- wells fargo, i think the world of management there has stunk but michael corleone explained to us earlier when he saw that man blow himself up in cuba you cannot go against people who play for free and care, that was still one more great business lesson from the godfather, the greatest business movie of all-time, "godfather ii" the good to great, great to better. "you broke my heart." >> we'll talk more about wells and get more clarity on the quarter, david, coming up on friday. >> yes. >>> meantime after surging 40% this year, home depot getting a downgrade. we'll talk to the analyst making that call. >>> also ahead wall street and main street waiting for apple's mini version of the ipad. does it have something in common with pizza and sex? we'll meet the guest who
government in anti-trust when they decided he was one more civil servant, that was the top. government plays for keeps, and never mess with the person who works because they care, i suppose, for the money. >> unlimited check and a lot of lawyers. >> one certain wells fargo lawsuit? >> i thought that was a very -- wells fargo, i think the world of management there has stunk but michael corleone explained to us earlier when he saw that man blow himself up in cuba you cannot go...